Question: Interactive activity 4.1 Learning Outcomes: Demonstrate process-flow analysis, process design solutions, operations strategies, Inventory Control System and customer services in the business operation. Apply knowledge

Interactive activity 4.1 Learning Outcomes: Demonstrate process-flow analysis, process design solutions, operations strategies, Inventory Control System and customer services in the business operation. Apply knowledge and skills to optimize production objective of maximizing profits using qualitative and quantitative techniques in related areas of operations management

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1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.

4. It is only at this point that you can give the problem your full attention in relation to the various ways you have framed the problem.